Press Release April 21, 2010

Fund Directions Honors Mark Holland as "Independent Counsel of the Year"

BOSTON, April 21, 2010Fund Directions, the prestigious mutual fund industry publication, recently honored Goodwin Procter partner Mark Holland as the “Independent Counsel of the Year” at its 17th Annual Mutual Fund Industry Awards ceremony.  Holland was recognized for his outstanding work in representing the independent trustees of the Reserve Funds.

As litigation counsel to the Independent trustees of the Reserve Primary Fund, Holland defended the Trustees in numerous lawsuits, all of which have been dismissed voluntarily.  He has advised the Trustees throughout the litigation process, including advocating their positions with the court and the Securities and Exchange Commission in securing approval of the Fund’s plan of liquidation.  He also assisted the Independent Trustees in their extraordinary efforts to distribute the Fund’s assets to shareholders as quickly as possible.

In guiding the independent trustees of the Reserve Primary Fund through numerous lawsuits, Holland drew upon his extensive knowledge of the mutual fund industry to provide practical and expert advice to the independent trustees on a daily basis with respect to many complex issues. 

“Mark coordinated his unparalleled litigation skills with exceptional legal and regulatory knowledge of the mutual fund industry,” said Philip H. Newman, chair of Goodwin Procter’s Investment Management Practice.  “We are thrilled for Mark’s well-deserved recognition as a leader in handling complex litigation involving mutual funds, investment advisers and independent trustees.”

Goodwin Procter has a robust Investment Management Practice representing mutual funds, independent trustees, investment advisers and other fund service providers.  Goodwin Procter attorneys have extensive experience registering and maintaining a full spectrum of open-end and closed-end funds and counseling boards and fund sponsors on industry “best practices” with respect to a broad range of governance and regulatory matters.  The firm’s Investment Management lawyers also work closely with lawyers in the firm’s Securities Litigation & SEC Enforcement Practice in handling high stakes securities litigation and regulatory investigations for mutual funds.

Goodwin Procter has one of the nation’s largest and most active practices defending securities class action, shareholder derivative, and other shareholder litigation, SEC investigations and enforcement proceedings, and related litigation and regulatory matters throughout the country.  The firm’s Litigation Department represents corporations, officers, directors and special committees, as well as broker-dealers, banks, mutual funds, insurance companies, private equity firms and other institutional investors, in a wide array of complex and transaction-based litigation and governmental investigations.  Nationally, Goodwin Procter has 82 lawyers practicing in the SEC enforcement and securities litigation area.

A partner in Goodwin Procter’s Securities Litigation & SEC Enforcement Practice, Holland has been repeatedly recognized by Chambers USA as one of New York’s leading securities litigators.  His practice focuses on defending underwriters in public offering litigation and defending investment advisers and mutual funds in litigation under the Investment Company Act of 1940. Holland has appeared as counsel of record for defendants in many of the major securities litigations of the past decade.  In addition, Holland serves on the Committee on Securities Litigation and the Committee on Investment Management Regulation of the New York City Bar.  Previously, he served on the Committee on Investment Management Regulation. 

Fund Directions’ highly-coveted Mutual Fund Industry Awards annually recognize the mutual funds, fund leaders, marketers, trustees and independent counsel who were distinctive for their excellence, achievements, innovation and contributions to the field.  Nominees were chosen by the editors of Fund Action and Fund Directions based on their extensive industry-wide due diligence. The editors drew on their own market intelligence as well as considered input from readers and industry leaders when selecting the winners.

About Goodwin Procter
Goodwin Procter LLP is one of the nation’s leading law firms with offices in Boston, Hong Kong, London, Los Angeles, New York, San Diego, San Francisco, Silicon Valley, and Washington, D.C. The firm’s core areas of practice are corporate, litigation and real estate, with specialized areas of focus that include financial services, private equity, technology, REITs and real estate capital markets, intellectual property, products liability and mass torts.